The Commerce Bank of Washington

UPDATE: April 22, 2020 2:00 P.M. PST

PAYCHECK PROTECTION PROGRAM UPDATE

Yesterday afternoon the U.S. Senate passed a bill that would provide an additional $320 billion to the Paycheck Protection Program. The House is expected to vote on the bill as early as Thursday morning. We anticipate the Small Business Administration (SBA) will resume acceptance of new PPP applications shortly thereafter.

For Businesses That Have Submitted Applications to The Commerce Bank of Washington:

Over the past several days, we have continued to process the applications we have already received, which did not receive SBA approval prior to the initial round of funding being exhausted. Our number one priority has been, and continues to be, preparing these applications for submission to the SBA as soon as they resume acceptance of Paycheck Protection Program applications.

Acceptance of New Applications by The Commerce Bank of Washington:

We are happy to accept new Paycheck Protection Program applications from any small business that qualifies and has not yet applied for a loan through this program. To begin your application, please contact your Relationship Manager or call us at 206-292-3900.

PLEASE NOTE: New applications that are incomplete and inaccurate, or do not include an accurately calculated and properly documented loan amount, requisite ownership and other eligibility information and an accurate 6-digit NAICS (North American Industry Classification System) code for your business, will not be processed. You will also be required to have a current transactional (e.g.¸checking) account with us bearing the same legal name under which your business applies for the loan, in order for us to deposit the loan proceeds.

Due to the significant interest in the Paycheck Protection Program, and the large number of applications previously received, we cannot guarantee funding will be available to all who apply.


Please check back here for updates regarding this program.

The Commerce Bank of Washington, a division of Zions Bancorporation, N.A. Member FDIC       Equal Housing Lender NMLS# 467014
© 2018 Zions Bancorporation, N.A.